Financial Services Commission of Ontario. Licensing Link Demonstration

Transcription

1 Financial Services Commission of Ontario Licensing Link Demonstration

2 What is Licensing Link? On-line system designed for use by Mortgage Brokerages, Brokers, Agents, Officers, Directors, and Mortgage Administrators.

3 Licensing Link will greatly simplify the submission of applications and declarations under the new Act. Licensing transactions are completed faster Accuracy increased Identifies inconsistencies, missing information Eliminates re-submitting of applications/declarations Eliminates need to decipher handwriting Ensures security Avoids mail delays Available 24/7 Licensing Fee payment facility

4 Licensing Link Agent / Broker declaration Process The following presentation is intended to describe the Officer and Director declaration process

5 BROKERAGE declaration PROCESS The declaration process for Officers & Directors will be started by their brokerage

6 Directors, officers, partners, directors and officers of corporate partners, employees or agents of a brokerage who are engaged in dealing or trading in mortgages on its behalf must obtain a mortgage broker or mortgage agent licence.

7 4 EASY STEPS! Step 1 Brokerage initiates declaration for the Officer or Director STEP 2 Officer / Director Completes Declaration Form STEP 3 - Brokerage review / approval / submission to FSCO STEP 4 FSCO review / approval

8 STEP 1 Brokerage initiates declaration for an Officer or Director

9 From the list of possible activities select NEW application

10 Before starting any declarations ensure you have all of the following information on the Officer / Director: Gender Date of Birth Language Preference (English / French) Full Legal Name Full Home Address Telephone Number address

11 To start the declaration click on the radial button beside Officer or Director

12 Birth date click on the calendar box to the right of the birth date field Language Salutation Last Name ensure that the persons full legal name is provided it will be required to perform the criminal background check Enter the Officer / Directors home address address

13 All the fields marked with a red astrex are required fields, the system will not allow you to proceed with the declaration process unless all the required fields are completed. Click on the SAVE button at the bottom of the screen when you are finished completing the declaration form

14 List of Pending declarations will appear on the screen, under the STATUS column it will indicate WAITING FOR PRELIMINARY COMPANY APPROVAL, click on the Officer / Directors name to open the declaration form

15 Scroll down to the bottom of the page and click on SEND TO APPLICANT button

16 A confirmation box will appear indicating that changes made to profile information of the Officer / Director after the is sent will not be saved click OK if you want to proceed

17 A confirmation page will appear click on SEND TO APPLICANT for them to complete the declaration form

18 List of Pending declarations will appear on the screen, under the STATUS column it will indicate WAITING FOR Officer / Director COMPLETION

19 To end the session on licensing link click on LOG OUT on the left hand side of the screen

20 STEP 2 Officer or Director Completes the Declaration Form

21 Agent declaration The Licensing Link system will send the Officer / Director an with a link to complete the declaration form The Officer / Director will click on the url link in the to open up the declaration started by the brokerage Please note: This e is being sent to you by Financial Services Commission of Ontario on behalf of BROKERAGE MAR 12 CB. All communication regarding the contents of this e should be directed to BROKERAGE MAR 12 CB. MESSAGE FROM BROKERAGE or ADMINISTRATOR: We have started an application or declaration on your behalf, click on the link below to complete the online process. iisintra/mbsweb/newappprocess.mbs?k ~88979~2BQ0O2O3K_EN~4~

22 Declaration Instruction Page

23 The first screen to appear will be the instructions read through the instructions CLICK on the I AGREE button at the bottom of the page To authenticate themselves the Officer / Director is required to enter in their date of birth, home postal code and address. This information must match the information provided on the declaration by the brokerage Click on the CONFIRMED button

24 A PIN number will be provided and the Officer / Director will be asked to establish a question and answer that can be used if they forget their password, click CONTINUE

25 The information entered by the brokerage will be displayed, changes can be made at this point to the address entered by the brokerage

26 The Officer / Director is required to read the consent to the collection of information statements and click on the CONTINUE button

27 The Officer / Director will be asked to provide information on their background click on the radial buttons yes or no for each question, the information provided will be cross checked with the Criminal Background check performed If you answer YES to any questions provide details in the text box Click on the CONTINUE button

28 The Officer / Director will be required to electronically sign the declaration form by typing in their name exactly how it appears on the declaration form Click on the CONTINUE button

29 The Officer / Director will be presented with a confirmation page of all the declarations made on the declaration, if changes required click on I WISH TO MAKE CHANGES, otherwise click on CONFIRMED

30 A confirmation box will appear indicating that the declaration has now been sent back to the brokerage for their final review / approval and submission to FSCO The Officer / Director can close the browser or click on the link to open the mortgage broker web site

31 STEP 3 Brokerage review / approval / submission to FSCO

32 Brokerage Approval / Submission to FSCO After the Officer / Director has finished the declration, the brokerage will receive a notification . From the they can view the summary of the information provided by the Officer / Director LASTNAMED, FIRSTNAMED MIDDLENAMED completed the application for a Mortgage Agent/Broker licence on Financial Services Commission of Ontario's online Licensing Link. As part of the process, the Applicant was presented with a Request for Confirmation, on which all statements he/she made on-line line were re-stated. stated. The applicant subsequently agreed that all statements on the Confirmation screen were correct by pressing the 'Confirmed' button. The link below will display the confirmation screen as exactly as the Applicant saw it. Please print to keep a copy for your records. If you encounter problems, please contact us at elicence@fsco.gov.on.ca. After viewing the applicant's confirmation you should revisit your brokerage's pending list to either give 'Final Approval' to this application, or deleted it from your pending list. iisintra/mbsweb/viewconfirmationpage.mbs?k ~88979~2BQ0O2O3K_EN~4 If you have received this message in error, please delete this e and any attachments without copying, distributing or disclosing their contents. Si vous avez reçu ce message par erreur, veuillez nous en aviser immédiatement et détruire ce courriel ainsi que toute pièce jointe en vous abstenant d'en faire une copie, d'en divulguer ou d'en diffuser le contenu.

33 The Brokerage will then need to log on to licensing link and click on the List of Pending declarations

34 The status of the declaration will indicate READY FOR FINAL COMPANY APPROVAL Click on the name of the Officer / Director to open the declaration

35 The brokerage can view the confirmation page of all the declarations made by the Officer / Director

36 The brokerage can decline the declaration if they no longer wish to licence the Officer / Director, delete the declaration, or approve it

37 The pending list will indicate that the declaration is now with FSCO for review / approval

38 STEP 4 FSCO review / approval

39 FSCO Review FSCO will review the information provided on the declaration form Perform a criminal background check Ensure suitability requirements are met Approve or deny the declaration

40 The brokerage can log on to Licensing Link and click on List of Pending declarations to see the status of FSCO s review

41 After FSCO has reviewed and approved the declaration for the agent the status of the declaration will be changed to completed, an will be sent to the Officer / Director and the brokerage

42 THE END